Mike Browning

Tag: finance

  • They’re Not Buying — They’re Betting

    They’re Not Buying — They’re Betting

    Don’t get hustled. Get the facts first.

    In the letters I send out (you’ve probably seen a few), I often point out how most unsolicited offers you get to buy your land are disappointing. A recent client sent me a couple of letters she’d received — perfect examples of what I’m talking about.

    One didn’t mention money at all. Just a vague line:
    “I’ve got someone wanting to buy another lot, are you interested in selling?”

    I reached out to the guy, but I can almost guarantee that if he replies, the offer will be well below what’s reasonable. Maybe good for a laugh, but not much more.

    The other letter actually named a price — and it wasn’t too far off the mark.

    But (there’s always a but)…

    The rest of the terms were weak:

    • Just $500 in earnest money
    • A 180-day closing timeline
    • Fully assignable contract

    That’s not a serious buyer — that’s a flipper running a low-risk bet. Here’s how their model works:

    They tie up your property for 6 months at a low (but not unreasonable) price, hoping to flip the contract to someone else for a profit. If they find a buyer, great — they make $10K to $20K. If not, they might come back to you last minute and say, “We’re still interested, but need to lower the price.” You can agree or walk — either way, they only risked $500.

    From their side, it’s a smart little hustle.
    From your side, it’s a waste of time.

    So if you get one of these letters and want a second opinion, just scan and send it to me. No charge — I’ll tell you if it’s worth your time or not.

    Got a lot you might want to sell?
    Get a FREE, no obligation report on what it could sell for today.
    Get Your Lot Valuation

    Own land instead?
    Get a report for that here:
    Get Your Land Value

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  • Why Owning Lots Isn’t All It’s Cracked Up to Be

    Why Owning Lots Isn’t All It’s Cracked Up to Be

    You’re probably wondering why I keep saying people should sell their lots, especially if you’ve been getting letters from me for the last 10 years. You might even be thinking, “What’s wrong with these lots?”

    Well, nothing’s wrong with them if you plan to build. The subdivisions I focus on are top-tier neighborhoods, and they make great places to live.

    However…

    Let me hit you with a couple disclaimers here: This isn’t financial advice, nobody can predict the future, and I’m not an attorney. You should definitely talk to a CPA or a financial advisor if you’re unsure about your financial situation.

    That said, in my opinion, lots like these just don’t make great investments or hold properties.

    Here’s why:

    1. The Hidden Costs Add Up Fast

    Property taxes, HOA fees, mowing, etc. You’re looking at thousands per year in costs. If your lot is financed, you’re paying monthly payments too. And it’s real money, not something that just magically stays on paper.

    The kicker? These costs tend to go up over time.

    Let’s say you’re spending $5K/year to own a lot. Hold on to that thing for 10 years, and that’s $50K down the drain. At least. Hopefully, the lot appreciates enough to cover that, but there’s no guarantee.

    2. The Risk-Reward Balance Isn’t There

    Some folks can stomach the risk of owning property with unknown returns. But if you’re going to invest in something with variable returns—whether that’s land, real estate, or stocks—it can be smarter to avoid the high carrying costs that come with owning lots like these.

    3. Selling Can Be a Smarter Play

    You should have your value report by now (or it’s probably hitting your inbox soon). Take a look at it, and if you have any questions, don’t hesitate to ask. I’m not about pressure—this is just about giving you the information you need to make the right decision.

    When you’re ready to talk about selling, or if you just want to ask a few questions, I’m easy to reach. No strings attached.

    Got a lot you might want to sell?
    Get a FREE, no obligation report on what it could sell for today.
    Get Your Lot Valuation

    Own land instead?
    Get a report for that here:
    Get Your Land Value

    Just a glutton for punishment?
    Sign up now to get more articles like this in your email.
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